NEW DELHI | MUMBAI: Toffee, Tata and Ambedkar entered 2014's campaign lexicon on Monday as Rahul Gandhi and Narendra Modi intensified what's already become a virtual competition of personal attacks. Adding to this were similar attacks on rivals by other leaders of both parties.

Gandhi's targeting of Modi, which resulted in Tatas being named in political attacks for the first time this poll season, seemed more dramatic, as it persists in naming big companies.

But so far at least, pundits in finance, marketing and academia don't see such a strategy change delivering major benefits for Congress.

Gandhi, continuing his attack on Modi and India Inc, named Tatas in addition to Adani and termed Modi's policies as a 'toffee model'. "You get a toffee at Rs 1, but Modi gave away 44,000 acre at Rs 1 (per) sq m," Gandhi said. "This is not Gujarat model, this is toffee model." On Tatas, Gandhi said, "Tata can get a loan for 20 years at 1% while farmers have to bear 12% interest". "There's a partnership between Modi and Adani," he said, repeating his accusations. Both Tatas and Adani Group declined comment when ET sought their responses.

Modi's attack on Gandhi did not pull punches either. Keeping in mind Monday was Ambedkar Jayanti, Modi said Rahul Gandhi has "insulted Ambedkar".

Congress belittled Constitution: Modi

"It is unfortunate that these days Congress party's shehzaade (Gandhi) enjoys humiliating Baba Saheb Ambedkar by repeatedly saying that Congress has given this right or Congress has given that right. All the rights and laws have been given to us by Ambedkar," Modi said.

BJP's PM candidate went on to say Gandhi's statements on rights belittle the Constitution, of which Ambedkar was the principal architect.

"If someone claims that he has given any right or law for the country, then he is insulting Ambedkar. Those who do not know the Constitution are taking credit for these things due to political reasons," he said.

Notable among other direct personal attacks were BJP's Arun Jaitley saying "the Gandhis are under siege" and that Rahul Gandhi has a "non-inspirational personality". Jaitley was responding to a media report that said Congress leadership had turned down Priyanka Gandhi's wish to contest from Varanasi.

Priyanka denied the report and told the media the decision not to enter electoral fray was "personal".

While the shift in campaign rhetoric to personal attacks seems almost universal — smaller parties have also joined the club — Gandhi's persistence with naming companies while attacking Modi has stood out.

Gandhi's new line of attack, which bears more than a passing resemblance to Arvind Kejriwal's rhetoric on what he calls a business-politics nexus, has left most marketmen unimpressed. "The market is not bothered about what Rahul Gandhi says as no one expects Congress to form the government," said Deven Choksey, managing director, KR Choksey Shares & Securities. "But, industrialists and businessmen will stop respecting leaders if they don't stop badmouthing them," he added.

"What Congress says at this juncture does not really matter to markets. If it were the party tipped to form the next government, then long-term investors would have taken note of such mudslinging," said the CIO of a foreign bank-owned mutual fund. He spoke on the condition he not be identified. Social scientists too were sceptical of Gandhi's new theme. It could be explained by a "fight for survival", sociologist and Shiv Nadar University professor Dipankar Gupta said.

Brand expert and commentator Santosh Desai said Gandhi's naming of alleged corporate beneficiaries can be explained by "Congress looking to attack Modi on something other than 2002 riots". "Corruption charges don't stick," Desai said, "so Congress is trying to portray Modi as favouring a few rich."

Gupta said, "One should also ask the question what are the links of Rahul Gandhi with corporations. What about Robert Vadra?" He also said naming companies is a "welcome development". "Why should they be exempt from scrutiny?"

Sudha Pai, political scientist and JNU professor, said, "The fight is becoming your corporation versus my corporation." "It's not as if Congress is antibusiness," she said, however, and added, "I don't think this will carry on post elections."